DiamondBuzz
The right time to Increase De Beers stake: Botswana’s mines minister
Botswana’s mines minister Bogolo Kenewendo says it’s “absolutely” the right time to discuss the government increasing its 15 per cent stake in De Beers.
She indicated that Anglo American, which owns the other 85 per cent of De Beers, was moving closer to an initial public offering (IPO) and that Botswana was pushing for a larger stake.
Anglo announced last week that it was likely to write down the value of De Beers from its current $7.6bn, as a result of persistent weak diamond demand, especially in China.
Botswana’s diamond, which accounts for over 70 per cent of the country’s export earnings, has been severely hit by the global slump in demand.
In the last nine months of 2024 Debswana – its 50/50 joint venture with De Beers it sold $1.53bn of rough, down 52 per cent on the same period in 2023.
DiamondBuzz
Sarine Expands Indian Footprint, Unveils GCAL Laboratory In Mumbai
The facility is located in the SEEPZ, a major hub for India’s gem and jewelry export trade. By establishing a footprint directly within SEEPZ, the company aims to streamline logistics for local manufacturers and international exporters.
Israel-based diamond technology firm Sarine Technologies has officially inaugurated a new GCAL by Sarine jewelry certification and quality assurance laboratory in Mumbai, marking a key expansion in one of the world’s primary gem manufacturing markets. The opening of our SEEPZ lab expands GCAL by Sarine’s capabilities in India into jewelry certification and brings services closer to manufacturers and exporters
The facility is located in the Santacruz Electronics Export Processing Zone (SEEPZ), a major hub for India’s gem and jewelry export trade. By establishing a footprint directly within SEEPZ, the company aims to streamline logistics for local manufacturers and international exporters.
Key Takeaways for Investors and Industry Watchers:
- Strategic Positioning: Operating inside SEEPZ cuts turnaround times for major manufacturers, addressing growing industry demand for localized supply chain efficiency.
- Global Network: The Mumbai lab complements existing GCAL by Sarine grading facilities in Surat—India’s diamond-cutting epicenter—and New York, linking crucial production pipelines directly to the U.S. consumer market.
- Service Expansion: The new center broadens Sarine’s core offerings in the region beyond rough and polished diamond analysis to include full-scale finished jewelry certification.
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PNGS Reva Diamonds Unveils Official E‑Commerce Platform, Marking A New Digital Chapter In Omnichannel Luxury
GJC Is Concerned and Disappointed With The Introduction Of MDR On UPI Merchant Transactions Above ₹2,000
Imposition Of MDR On UPI Transactions Imposes Additional Financial Burden On Gold Trade Sector — KGSMA
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National News10 hours agoPNGS Reva Diamonds Unveils Official E‑Commerce Platform, Marking A New Digital Chapter In Omnichannel Luxury
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National News14 hours agoGJC Is Concerned and Disappointed With The Introduction Of MDR On UPI Merchant Transactions Above ₹2,000
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National News13 hours agoImposition Of MDR On UPI Transactions Imposes Additional Financial Burden On Gold Trade Sector — KGSMA
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National News13 hours agoPalmonas Celebrates Its 101st Store, Marking A Journey Built On Trust, Community and A New Way Of Experiencing Jewellery
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.